March 12, 2019 / 6:10 AM / 4 months ago

German stocks - Factors to watch on March 12

BERLIN/FRANKFURT, March 12 (Reuters) - The following are some of the factors that may move German stocks on Tuesday:

BREXIT

British Prime Minister Theresa May won legally binding Brexit assurances from the EU in a last ditch attempt to sway rebellious British lawmakers who have threatened to vote down her divorce deal again.

DEUTSCHE BANK COMMERZBANK

German Finance Minister Olaf Scholz confirmed that the country’s two largest publicly listed banks were exploring a possible merger.

Separately, the New York attorney general's office issued subpoenas to Deutsche Bank and Investors Bank for records relating to the financing of four major Trump Organization. nyti.ms/2F5ikDK

FRESENIUS MEDICAL CARE

The kidney dialysis company said it would buy back up to 330 million euros of its own shares.

VOLKSWAGEN

Volkswagen said it will launch 70 new electric models by 2028, accelerating its rollout of zero-emission cars as earnings revealed the operating margin at its core brand had taken a hit from new emissions tests.

Additionally, annual news conference due at 0800 GMT. Livestream: bit.ly/2nXQBh9

Separately, Alphabet Inc’s self-driving car division, Waymo, has been seeking financing from Volkswagen AG, a technology website reported on Monday, adding that Fiat Chrysler and Jaguar could also be among potential investors.

UNIPER

Q4 results due. Adj EBITDA seen at 645 million euros. Poll:

CHEMICALS

German chemicals association VCI due to release 2018 results

ENERGY

Germany’s oil and gas producers’ association BVEG due to issue 2018 domestic production data

DMG MORI

2018 results & analysts’ conference due

KLOECKNER & CO

The steel trader said it expects higher sales and core earnings this year, lifted by an increase in prices and an uptick in demand it forecast for its key markets Europe and the United States.

WACKER NEUSON

The construction equipment company said it will propose a dividend of 60 cents per share and a special payout of 50 cents per share.

OVERSEAS STOCK MARKETS

Dow Jones +0.8 pct, S&P 500 +1.5 pct, Nasdaq +2.0 pct at close.

Nikkei +1.9 pct, Shanghai stocks +1.2 pct.

Time: 6:08 GMT.

GERMAN ECONOMIC DATA

No major economic data scheduled

DIARIES

REUTERS TOP NEWS (Reporting by Berlin Speed Desk and Frankfurt Newsroom)

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